BUDGET ESTIMATING NOTES Planning-level estimates for capital projects identified in this Plan are provided; however, it is important to read these estimates in the context of the following conditions: f Given the broad scope of master planning, costing of capital recommendations should only be considered a planning-level estimate. Planning-level estimates are meant for project budgeting, phasing, and comparative costing only, and are assumed to carry a contingency of +/- ~30%. Costs will continue to be clarified through future steps in planning and design for specific projects. f Estimates only consider capital costs in total, not a breakdown of funding sources. It is presumed that projects will be funded using a variety of strategies including those identified in Section 5.2 Funding Strategies. In some cases, project implementation may be contingent on West Kelowna securing outside sources of funding. The estimates in this plan are not intended for direct translation into municipal tax calculations. f Estimates do not include future land acquisition costs for trails development or potential of long-term major projects that are beyond the 10-year planning horizon, as these costs will vary widely. Land acquisition costs in particular will depend on the manner in which land is acquired.
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RECREATIONAL TRAILS MASTER PLAN UPDATE
f Further planning and design development will provide additional clarity on costs for specific improvements which may increase or decrease estimate numbers. Estimating will be completed during future processes to provide more certainty. f As the community, and subsequently the trails system grows, staffing levels, maintenance requirements, and life-cycle needs must be considered. A general “ruleof-thumb” is to expect annual operational, maintenance, and life-cycle costs for recreational trails assets to be from 0.5% to 5% of the capital cost of a new trail. Costs will depend of trail type and amenities. For example, major multi-use trails or trails in high-use areas require more investment for development, operations, and maintenance while nature trails typically require lower development and maintenance costs. f Inflation is not included in the estimate. Presumably, improvements implemented five years from now will be more expensive than estimates allocated today due to inflation. f Where costs are identified as annual costs, estimating is projected for a 10-year period.